S.B.

If you buy a property that is a house and a shop and wish to use the shop as a shop and live in the house what sort of mortgage do you have?

Thanks

Scooby96

You could get a buy to let type but then not let the flat out

DJ Dunk

iTrader: (5)

. . And you'll need a special licence for that kind of shop. You sick, sick man

Reffro

You need to talk to me who used to broker exactly this type of mortgage. I don't do this anymore but I know the do's and don'ts obviously.

S.B.

It's not for me it's for a mate who doesnt have internet access

(Might get deleted now because he's not a scoobynet member)

fast bloke

most of the big lenders cater for this - doesn't always have a special name, but they usually put a limit on the % of floorspace for commercial use. The technical term they use is 'flat over shop.' Woolwich and Abbey do it no problem. A&L and Nationwide refer it to underwriters to check shared access and shared responsibilities. Halifax won't consider it

deano

Well I tried Woolwich and they didn't want to know. They classed it as commercial and they don't do commercial anymore.

It was dead easy to buy it if the shop was 20% but any more and you are on a commercial mortgage. With accounts around 6%, without on a self cert was 9%. They wanted 25% down.

Keep us updated cause I am interested how you get on.

D.